Abstract
The self-imposed constraint requiring the U. S. Treasury to have a positive balance in its account prior to spending combined with the Federal Reserve's desire to achieve its federal funds rate target result in six transactions being necessary when the U. S. Federal Government runs a deficit. This paper explains these six transactions by combining the Social Fabric Matrix and Social Accounting Matrix methodologies.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have